Nido Wrapped 2024

Dec 17, 2024

🌟 As 2024 winds down, the Nido team is preparing for our annual two-week break to recharge and set our sights on what's next.

To our founders, partners, and community - thank you for making 2024 remarkable. See you in 2025 with renewed energy and bigger ambitions!

As always, you're reading ConteNIDO, your go-to place for all things Mexico/US, tech, AI, and innovation. Make sure to subscribe to receive our up-to-date analysis 😉

Nido Indicators 🇲🇽🇺🇸

Auto Exports: 289,309 units on Nov 01, 2024 (📉43,047 units from Oct 01, 2024)

Consumer Confidence Indicator in Mexico: 47.70 pts on Nov 01, 2024 (📉3.64% from Oct 01, 2024)

Consumer Confidence Indicator in United States: 74.00 pts on Dec 01, 2024 (📈3.06% from Nov 01, 2024)

Federal Reserve Interest Rate: 4.75% on Nov 07, 2024 (📉5.00% from Sep 18, 2024)

Bank of Mexico Interest Rate: 10.25% on Nov 14, 2024 (📉2.38% from Sep 26, 2024)

USD-MXN Exchange Rate: 20.18 pts on Dec 17, 2024 (📉0.83% from Nov 15, 2024)

S&P/BMV IPC: 50,421.61 pts on Dec 17, 2024 (📈199.21 points from Nov 15, 2024)

Inside Nido: What we are doing

Last week our managing partner had the chance to connect with Ivan Montoya from NuMundo Ventures !

In the Know with Nido: What we are reading

🛑 U.S. Court Rejects TikTok's Appeal to Halt Sale-or-Ban Law A federal court has denied TikTok’s request to freeze a law requiring its Chinese parent, ByteDance, to sell the app or face a ban by January 19. TikTok plans to appeal to the Supreme Court, arguing the law infringes on users' rights. (The New York Times)

💸 Western Union Launches Branded Stores in Mexico Western Union opened eight branded stores in Mexico, marking its first international retail locations. These stores offer enhanced money transfer services, supporting its ‘Evolve 2025’ strategy and meeting rising remittance demand, particularly during the holiday season. (Business Wire)

🚀 Brian Quintenz: Top Candidate for CFTC Chair Under Trump Brian Quintenz, a16z crypto’s policy lead and former CFTC Commissioner, is a leading candidate for the CFTC chair role in Trump’s administration. Known for his work on Bitcoin and Ethereum futures contracts, Quintenz is expected to focus on digital asset regulation. (Crypto Briefing)

🔍 Mexico's Strategic Move in Semiconductor Education Mexico is aligning education with semiconductor industry needs by launching engineering programs and technical careers in microelectronics. This initiative, backed by government ministries, aims to develop a skilled workforce and position Mexico as a competitor in the $600 billion semiconductor market. (Source)

📉 Foreign Investors Pull $495.8 Million from Mexico Amid Global Instability Foreign investors withdrew $495.8 million from Mexico in November, bringing total 2024 outflows to $4.7 billion. Global uncertainties and political factors have impacted the stock market, raising concerns about future investments. (Axis Negocios)

🔧 China's Export Ban: A New Front in the Tech War China has banned exports of gallium and germanium, essential minerals for high-tech industries, in retaliation to U.S. tech restrictions. This escalation in the trade war underscores China's dominance in critical minerals and poses challenges for U.S. industries. (The New York Times)

💰 MicroStrategy's $1.5 Billion Bitcoin Purchase Fuels Nasdaq 100 Inclusion MicroStrategy purchased $1.5 billion in Bitcoin, increasing its total holdings to 186,780 BTC. The move boosted its stock price, earning a spot on the Nasdaq 100, and reinforced its strategy to attract institutional investors. (Bloomberg)

🤖 SoftBank's $100 Billion Investment: A Leap into AI and Job Creation SoftBank CEO Masayoshi Son pledged $100 billion in U.S. investments to create 100,000 AI jobs over four years. This commitment reflects confidence in the U.S. economy and signals a major push for innovation and growth post-Trump election. (Bloomberg)